The announcement on 1 June that the Chinese company One Plus has scheduled could be related to the OnePlus One smartphone, suggests a new report.

Recently the company posted a teaser through its official Twitter account with a note that reads: "We're always looking for ways to shake up the tech industry. And we think it's time for change. Find out more June 1."

While there have been reports hinting that the sequel to OnePlus One is highly likely, FoneArena has obtained some exclusive information which suggests there would be no new handset and that users will have to wait for a while for the launch.

On 1 June the Chinese smartphone vendor will announce a global price cut for the OnePlus One by $50, affirms the source. This means the 64GB model which now costs $348 would be available for $298 starting this Monday, while the 16GB set will come at $248.

The pricing for users in India is expected to remain the same with the smartphone expected to retail at Rs 21,998 for the 64GB and Rs 18,998 for the 16GB variant, adds the source.